According to Beating Monitor’s tracking, SpaceX’s free writing prospectus filed with the U.S. Securities and Exchange Commission (SEC) on June 5 reveals that the company signed a 33-month cloud services agreement with Google on the same day. Under the terms, Google will pay $920 million per month starting October 2026 to lease approximately 110,000 NVIDIA GPU computing units. This follows last month’s lease agreement with Anthropic, marking another instance where SpaceX is renting out its xAI division’s substantial computing capacity to a competitor. The disclosure documents state that either party may terminate the agreement with 90 days’ prior notice beginning December 31, 2026. This 90-day early termination clause mirrors the structure of the prior Anthropic contract, reflecting SpaceX’s firm insistence on retaining the ability to reclaim computing power at any time, in case of urgent training demands for Grok. Beyond short-term flexibility, the contract imposes stringent delivery penalties on SpaceX: if it fails to deliver all 110,000 GPUs by September 30, 2026, Google may terminate the agreement or proportionally reduce monthly payments after a one-month grace period. Additionally, Google retains full ownership of all content and AI models to isolate data and prevent parameter leakage. The consecutive signing of these high-value computing contracts reflects the financial pressure SpaceX faces ahead of its upcoming initial public offering (IPO). The ongoing losses from its xAI division have dragged down SpaceX’s overall first-quarter performance. By leasing computing power to Google and Anthropic, SpaceX aims to generate cash flow and demonstrate to Wall Street the growth potential of its AI business.
SpaceX Signs $920 Million Monthly GPU Lease Deal with Google Ahead of IPO
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Summary
SpaceX disclosed in SEC filings a 33-month cloud agreement with Google, under which Google will pay $920 million per month starting October 2026 to lease 110,000 NVIDIA GPUs. The deal follows a similar contract signed with Anthropic last month. SpaceX is monetizing xAI’s computing resources to enhance cash flow and highlight the potential of AI and crypto ahead of its IPO.
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